Current Structure:
The price is consolidating near 719.47 USDT, testing a key horizontal resistance zone around 730.65 USDT.
A clean breakout above this level with a 1-hour confirmation candle would signal a bullish move.
2. Risk-to-Reward Setup:
Entry: Around 730-735 USDT after confirmation.
Target: 835.55 USDT (previous significant resistance).
Stop-Loss: Below 704.35 USDT, aligning with recent lows.
3. Volume & RSI:
Volume remains steady but needs to increase to support a breakout.
RSI is near 50, suggesting neutral momentum with room for upside.
Long Plan:
I will open a long position if I get a 1-hour bullish confirmation candle above 730.65 USDT.
The setup offers a favorable risk-to-reward ratio (targeting ~835 with a stop near 704).
This trade aligns with bullish expectations on the breakout and retest strategy. Patience for the confirmation is key.